@ScottPresler I live in California and follow you. I love watching your success and dedication to this country. Please keep going. I’m cheering for you.
Barry Sternlicht has said, "The office market has an existential crisis right now... it's a $3 trillion dollar asset class that's probably worth $1.8 trillion [now]."
On today's episode of commercial real estate selling for pennies on the dollar:
A Los Angeles office building just sold for 52% less than its price five years ago.
The office building was originally purchased in 2018 for $92.5 million.
Now, it sold for $44.7 million even after over $11 million in renovations.
Just weeks ago, the Aon Center in downtown LA sold for $147.8 million, 45% less than its previous purchase price in 2014.
This is a crisis.
New: Social media giant Snap has signed a 10-year lease for more than 400,000 square feet at Santa Monica Business Park in Santa Monica, CA, sources familiar with the deal tell CoStar News
https://t.co/Mk4OtsIFZu
Persian Gulf International Airport in Iran reported a heat index of 152°F (66.7°C) today at 12:30 pm.
Those are intolerable conditions for human/animal life.
Sign of the times for the LA office market: Jamison Services wants to convert a 33-story office tower that was once part of ARCO's headquarters into 691 apartments #DTLA https://t.co/aIGn1StIC6
There's no place like home...Blaine County, Idaho. We thought we'd brighten your day with this stunning photograph of the Beaver Pond on the Big Wood River in Sun Valley by Jacob Haeberle. This is literally our backyard. Please drive safely so you enjoy this magical place we live
STOL is an acronym for a short takeoff and landing aircraft, which have short runway requirements for takeoff and landing. This one shows a record short landing
[read more: https://t.co/dU7574DDAj]
[📹 Jon Bush: https://t.co/FSPELl7aSC]